27 entrepreneurs on a marathon in Tripoli and Benghazi to restart their businesses
Funded by the Government of Japan, the United Nations Development Programme (UNDP) in Libya launched today a two-day marathon in Tripoli which aimed at helping entrepreneurs to rebuild their businesses and reunite their communities with an eye on gender mainstreaming, environment and peace.
Under the name Re-Start-Up, the marathon seeks to address the economic crisis provoked by the conflict that severely impacted the private sector in Libya, leading to the closure of businesses, as well as the high unemployment rates that have been compounded by the current COVID-19 pandemic.
During Re-Start-up, participants will receive business development training to further improve their ideas, enrich them and turn them into reality.
Selected ideas will be technically and financially supported during the business development process with grants of up to US$40,000, and the individual or teams' authors of those ideas will have the chance to receive a pre-incubation accelerator program to benefit from training and mentoring for three months.
During the Re-Start-Up launch, which was streamed live on UNDP Libya Facebook page, a UNDP staff read the opening remarks on behalf of Chargé d'Affaires of Japan to Libya, Mr. Tsuneki Matsuda, which stated:
"The Government of Japan is pleased to support the Re-Start-Up initiative. Through economic development and job creation, the private sector has tremendous potential to help in the stabilization of the country. As the tide of business rises, it has the potential to reunite the communities and the country. The business sector must look at how it can likewise become more resilient, sustainable, and people-centered."
On her part, UNDP Libya Deputy Resident Representative, Ms. Gözde AVCI-LEGRAND, said:
"The spread of Covid-19 pandemic in Libya has exacerbated livelihoods and employment opportunities for many in Libya, adding layers of challenges and complexities on the top of an ongoing conflict.
"UNDP's efforts on livelihoods and economic recovery are the first critical steps for addressing underlying vulnerabilities and inequalities towards sustainable and equitable development. I am confident that the Re-Start-Up Marathon will contribute to boost jobs creation in Libya and reinvigorate the local economy to support the most vulnerable people."